Amendments to the N and P Regulations of the Manual of Regulations for Non-Bank Financial Institutions

Banexo SeNrneL Ne PrutptNAs OFFICE OF THE GOVERNOR crRcutAR N0.L019 Series of 2Ot9 Subject: Amendments to the N and P Regulations of the Manual of Regulations for Non - Bank Financial Institutions The Monetary Board, in its Resolution No. 514 dated 28 March 20L9, approved the following amendments to the N and P Regulations of the Manual of Regulations for Non-Bank Financial Institutions, particularly on the requirements for registration of Pawnshops and Money Service Businesses. Section 1. Section 4511N shall be amended to read, as follows: "Section 4511N Money Service Business Operations. The following rules and regulations shall govern the operations and reporting obligations of non-bank entities engaged in remittance, money changing, and/or foreign exchange dealing, pursuant to Section 3 of Republic Act (R.A.) No. 7653, as amended, [The New Central Bank Act], Section 3, in relation to Section tL, of R.A. No. 9160, as amended, [The Anti-Money Laundering Act (AMLA) of 20011, Section 3(c) of R.A. No. 1.0L68 (The Terrorism Financing Prevention and Suppression Act of 2OL2l and their implementing rules and regufations, and Section 80 of R.A. No. 7653, as amended (The New Central Bank Act)." Section 2. Subsection 4511N.1to Subsection 4511N.3 shall be amended to read, as follows: "Subsection 4511N.1 Definition ol terms. a. Remittance and Transfer Companies Bfq - xxx. This includes the following: (1) Remittonce Agent (RA) - xxx. (a) Remittonce Direct Agent (RDA)-xxx (b) Remittonce Network Provider (RNP) - refers to any entity that provides a network of Remittance Sub-Agents to perform remittance services to RTC. (c) Such other similar entities as may be determined by the Monetary Board. For the purpose of this Section, entities functioning as an RA as herein defined shall be registered as such, notwithstanding whether they are also acting as Remittance Sub-Agent (RSA). xxx ;.-M;bi;;l i!.1;il,'rte 1.0n4 lli:rril;:. Pitilrppirlrr. i{i37-i 708-7701 r wvrw.bsfr.iiov.[.]h , bi.pryiriliaja-sp.i1ov.plr

b. Remittance Sub-Agent (RSA) - xxx. This includes xxx. An RSA shall no longer be required to register with the Bangko Sentral. However, the RTC shall comply with the notification requirements as provided in Subsection 451 1N.3(b). xxx h. Branch - refers to any company-owned office or place of business other than the Head Office of an RTC/MC/FXD. i. RSA office - for purposes of this Section, it shall be considered as an extension office of an RTC. lt includes the head office and branches of an RSA. i. Offices - refer collectively to the head office, branches and RSA offices where money changing/foreign exchange dealing and/or remittance transactions shall be conducted. Subsection 4511N.2 Requirements for registrotion. RTCs/MCs/FXDs xxx. All xxx. a. Registration of RTCs/MCs/FXDs. For registration purposes, RTCs/MCs/FXDs shall be classified into six (G) categories with the following criteria: xxx RTCs/MCs/FXDs shall submit the Application for Registration and Notarized Deed of Undertakin g (Appendix N-g-b-I) to the appropriate supervising department of the Bangko Sentral. RTCs/MCs/FXDs shall adhere to the registration procedures contained in Appendix N-8-a. b. Issuonce of Bangko Sentrol Certificote of Registrotion (COR) and Metal plote. RTCs/MCs/FXDs xxx. Within xxx. xxx. In considering xxx. In determining xxx. A metal plate bearing the unique registration number of the RTC/MC/FXD shall be issued to each RTC/MC/FXD head office. The Bangko Sentral reserves the right to collect reasonable amount to cover the cost of production/issuance of the metal plate. c. Accreditation of RSAs. Duly registered RTCs may accredit their own RSAs: Provided, That: (i) the engagement of RSA's remittance services is directly related to the accomplishment of RTC's business plan/strategy; and (ii) appropriate.risk management policies and procedures pertaining to the aforementioned engagement are in place.

The RSA shall be considered as part of the network of its accrediting RTC. RSAs are also subject to effective continuing oversight of their RTCs. RTC shall conduct appropriate due diligence in the accreditation of its RSAs and shall be responsible for the RSAs' compliance with all applicable anti-money laundering (AML)/combating the financing of terrorism (CFT) rules and regulations. Relative to the engagement of RSA, the policies and procedures, at a minimum, shall contain the following: (1) Selection criteria and process in the accreditation of an RSA. The selection criteria shall take into account, among others, the necessary permits/authorization to perform the remittance business, and the fitness and propriety of the proprietor, partners, directors, or principal officers of an RSA. ln determining whether a person is fit and proper, regard shall be given to the following: integrity/probity, market reputation, competence, and financial capacity; (2) Regular operational review on RSA's compliance with applicable laws, rules and regulations, especially on compliance with AML/CFT and consumer protection requirements and performance in carrying out remittance activities; and (3) Delisting of an RSA or termination of a remittance contract. A relationship or remittance arrangement with an RSA shall be supported by a notarized remittance agreement. The contract shall clearly identify the roles and duties of each party including, among others, the responsibilities to comply with relevant Bangko Sentral rules and regulations particularly on AML/CFT and consumer protection requirements. lt should also stipulate therein that the RSA shall allow the Bangko Sentral to have access on the remittance system, records and other relevant information. The RTC shall ensure that its RSA offices shall maintain a signage posted conspicuously in their premises, indicating that the RSA is an accredited agent ofthe RtC. d. Mondotory troining requirement. The proprietorsl, partners, directors, president or officer of equivalent rank and function, over-all head of the money service business operation and the head of the compliance unit shall attend a seminar on AML/CFT laws, rules and regulations, before start of operations, conducted by the Bangko Sentral, Anti-Money Laundering Council (AMLC), or any reputable training provider2. Subsection 4511N.3 Notification requirements. RTCs/MCs/FXDs shall inform the appropriate supervising department of the Bangko Sentralof the following events: a. Commencement of operations. RTC/MC/FXD shall notify within five (5) business days from the start of operations of its head office. 1 Refer to owner of single proprietorship MSBs 2 Refers to an entity which has an adequate track record of successfully conducting training programs preferably on financial institution-oriented courses, including AML/CFT training. For this purpose, the RTC/MC/FXD shall be responsible in ascertaining whether the training provider is reputable as herein defined.

b. New offices. RTC shall submit a list of all its new branches and accredited RSAs on a monthly basis within five (5) business days from end of the reference month. c. New/Terminoted tie-up partner/s. RTC shall submit a list of all its new and terminated local/foreign remittance tie-up partners during the month within five (5) business days from the end of the reference month. The relationship or remittance arrangement with the tie-up partner/s shall be supported by remittance agreement/s which shall be notarized or consularized if originated/signed abroad. RTC shall ascertain that its tie-up partner is authorized to engage in remittance business by the appropriate supervising/ licensing authority and is compliant with the AML/CFT laws of the country where it operates. All remittance agreements shall be made readily available during examination or upon request of the Bangko sentral without delay. Xxx" Section 3. Subsections 4511N.5(a) and 4512N.8(a) shall be amended to read, as follows: "Subsection 451 lN.6 Re ports. a. Required reports. Xxx: (1) Semestral report of operating, and closed/delisted RTC/M C/FXD offices which shall be submitted within ten (10) business days from the end of the reference semester; xxx (4) Quarterly reports on the total value of foreign and domestic remittance transactions which shall be submitted within ten (10) business days from the end ofthe reference quarter. RTCs/MCs/FXDs shall adhere to the guidelines issued by the Bangko Sentral on the manner of submission of reports in forms as may be determined and required by the Deputy Governor, of the appropriate sector of the, Bangko Sentral. Su bsection 4512N.8 N otifi coti o n a n d re p o rtin g req u i re me nts. a. Required reports. A Virtual Currency (VC) exchange xxx. In addition, a VC exchange shall maintain records and submit the following reports to the appropriate supervising department of the Bangko sentral: Nature of Report Frequencv Due Date xxx xxx xxx 3. List of operating offices Semestral Ten (10) business days from and websites the end of the reference semester

A VC exchange shall adhere to the guidelines issued by the Bangko Sentral on the manner of submission of reports in forms as may be determined and required by the Deputy Governor, of the appropriate sector of the Bangko Sentral." Section 4. Subsections 4511N.7 and 4512N.7 shall be amended to read, as follows: "subsection 4511N.7 lnternal control. RTCs/MCs/FXDs shall maintain an internal control system commensurate to the nature, size and complexity of their respective businesses. Subsection 4512N.7 lnternol control. All VC exchanges shall maintain an internal control system commensurate to the nature, size and complexity of their respective businesses. " Section 5. Appendix N-8-a (Registration Procedures for RTC/FXD/MC) and Appendix N-8-b-1 (Deed of Undertaking) shall be amended, as contained in Annex "A" of this Circular. Section 6. Subsection 4103P.1 shall be amended to read, as follows: "Subsection 4103P.1 Classilication of pawnshop operator license. The xxx: Type Description uAn Pawnshoo business with not more than ten (10) offices. a. Pawnshop business with more than ten (10)offices; or UB' b. Pawnshop business with money changing/foreign exchanee dealine Pawnshop business with corollary remittance activity uc' requiring Bangko Sentral registration, with or without money chaneingfforeign exchange dealing. UD' Virtual xxx. The Bangko Sentral xxx. All pawnshop businesses are allowed to act as Remittance Sub-Agents as defined in Subsection 4511N. 1." Section 7. Subsection 41.03P.2 shall be amended to read, as follows: "Subsection 4103P.2 (2016 - 4101P.5) Mondotory troining requirement The proprietors3, partners, directors , president or officer of equivalent rank and function, and over-all head of the pawnshop operation and the head of the compliance unit shall attend, before the start of operations, a seminar on AML/combating the financing of terrorism (CFT) laws, rules and regulations, conducted by the Bangko Sentral, AMLC, or any reputable training providera." 3 Refer to owner of single proprietorship pawnshops a Refers to an entity which has an adequate track record of successfully conducting training programs preferably on financial institution-oriented courses, including AML/CFT training. For this purpose, the Pawnshop shall be responsible in ascertaining whether the training provider is reputable as herein defined.

section 8. Subsections 4142P.2 shall be amended to read as follows: "Subsection 4142P.2 Qenerol qualifications. Any person can be a proprietor, partner, or director, president or officer of equivalent rank and function, and over-all head of the pawnshop operation and the head of the compliance unit of pawnshops provided he/she: a. Must have complied with the AML/CFT training as prescribed under Subsec. 4LO3P.2; and b. Must not be included in the Bangko SentralWatchlist Files. An NBI clearance shall also be required for any newly accepted/elected/ appointed partner, director, president or officer of equivalent rank and function, and over-all head of the pawnshop operation and the head of the compliance unit of pawnshop." section 9. subsections 4143p.5 shall be added, to read as foilows: "Subsection 4143P.5 lssuonce of Metal Plote. A metal plate bearing the unique registration number of the pawnshop head office shall be issued to the pawnshop operator. The Bangko Sentral reserves the right to collect a reasonable amount to cover the cost of the production/issuance of the metal plate." section 10. subsection 4152P.1 shall be amended to read, as follows: "Subsection 4L52P.L (2016-4126P.11 Notificotion. A pawnshop operator is alfowed to establish and operate more than one (1) pawnshop office: Provided, however, That it shall be the responsibility of the pawnshop operator to notify the appropriate supervising department of the Bangko Sentral regarding new pawnshop office/s operated during the month within five (5) working days from end of the reference month. Such notification shall include the exact address of the pawnshop office and the starting date of its actual operations and must be signed by the proprietor/managing partner/president or an officer of equivalent rank and function.,, Section 11. Subsections 4691P.1to Subsections 4691P.3 shall be deleted. Section 12. Appendix P-1 (List of Documentary Requirements to Accompany an Application for Authority to Operate a Pawnshop Business) shall be amended, as contained in Annex "8" of this Circular. Section 13. Appendix N-1 (List of Reports Required from Non-Bank Financial lnstitutions) and Appendix P-13 (List of Reports Required from Pawnshops) shall be amended, as contained in Annex "C" of this Circular.

Section 14. Effeaivity. This Circular shall take effect fifteen (15) calendar days following its publication in the Official Gazette or in a newspaper of general circulation in the Philippines. FOR THE MONETARY BOARD: /a /'' l r,'.^. DIWA 14)1. 3 Mav 2oL9 PageT of7

Annex "A" Appendix N-8-a Registration Procedures for RTC/MC/FXD (Appendix to Subsection 4SLIN.2) Registration constitutes a two-stage process. Stage 1 is a preliminary screening process for Bangko Sentral to determine if applicant is eligible for registration. In Stage 2, the eligible applicant is invited to submit supporting documents to complete the registration process. A. First Stage The new applicant shall submit the following for evaluation: 1. Application Letter; 2. Business Plan including target markets; and 3. List of owners/controlling shareholders, directors, and principal officers, as applicable. B. Second Stage lf the applicant is deemed eligible in Stage 1, the applicant shall be invited to submit a notarized Application for Registration to Operate a Money Service Business, accompanied by the following documents: 1. Notarized Deed of Undertaking(Appendix N-g-b-11; 2. Compliance with fitness and propriety requirements by the proprietor, partners, directors, president or officer of equivalent rank and function, and over-all head of the money service business operation and the head of the compliance unit, as the case maybe. For this purpose, applicants shall be required to submit the following: a. Personal Data and Authorization Form (Appendix N_S_b_2); b. NBI clearance, or its equivalent, if issued in foreign jurisdiction; and c. Proof of attendance to the mandatory training on anti-money laundering/combating the financing of terrorism; 3. Business license/permit for the current periodr; and 4. Proof of provisional registration with the Anti-Money Laundering Council Secretariat. 1 The entity name, business address and activity(ies) indicated therein should be consistent with the business registration with the DTI/SEC/CDA, as applicable. The details in said business permit shall be used as basis in the issuance of Certificate of Registration.

-?fii Annex "ff

Appendix N-8-b-1 REPUBLTC OF THE PHTLTPPTNES) clTY )s.s. DEED OF UNDERTAKING l/We (the Proprietor/Partners/Members of the Board of Directors) and key executive officers of (Name of Institution). a legal entity duly authorized to operate under the laws of the Philippines, with principal place of business at by these presents, do hereby obligate ourselves, individually and collectively, to undertake and ensure: 1. Strict compliance with all the requirements, rules and regulations of the Bangko Sentral regarding the registration and operations of money service business, as well as the provisions of Republic Act (R.A.) No. 9160 [The Anti-Money Laundering Act (AMLA) of 20011, as amended, R.A. No. 10158 (The Terrorism Financing Prevention and Suppression Act of 2OL2l and their implementing rules and regulations; 2. Responsibility for any violation of the provisions of R.A. No. 9160 (The AMLA of 2001), as amended, R.A. No. 10168 (The Terrorism Financing Prevention and Suppression Act of 2OL2l, and their implementing rules and regulations, and for possible sanctions prescribed under Section 36 of R.A. No. 7653, as amended, (The New Central Bank Act) and other applicable laws, rules and regulations; 3. Financial capacity to organize and operate a money service business and full compliance with the minimum capitalization prescribed under Subsection 451lN.2 of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI); 4. Compliance with the requirements on customer due diligence, covered and suspicious transaction reporting, and record keeping and retention; 5. Development, adoption and dissemination to all employees concerned of a Money Laundering and Terrorist Financing Prevention Program (MTPP); 6. Exclusive use of bank account/s in the name of the registered entity in its official business transactions and to provide a certified list of all bank account/s supported by confirmation from depository bank/s which shall be subject to Bangko Sentral inspection/ examination for anti-money laundering (AML)/combating the financing of terrorism (CFT) purposes; 7. Notification of the appropriate supervising department of the Bangko Sentral within the prescribed deadline of the following events: (a)commencement of operations; (b) change of registered/business name; (c) new office/s; (d) new/terminated tie-up partner/s; (e)transfer of location of office/s; (f) additional money service business; (g)closure of office/s; and (h) closure of business;

8. Prior approval from the appropriate supervising department of the Bangko Sentral for any change in ownership or control; 9. Strict compliance with the requirements of maintenance of records and submission of required reports; 10. Maintenance of an internal control system commensurate to the nature, size and complexity of the business; LT. Adoption of minimum standards of consumer protection in the areas of disclosure and transparency, protection of client information, fair treatment, effective recourse and financial education pursuant to the MoRNBFI - N Regulations; L2, Compliance with the applicable provisions of the Information Technology Risk Management Framework of the MORNBFI - N Regulations; 13. Payment to the Bangko Sentral of the following fees: (a) registration fee; (b) annual service fee; (c) metal plate; and (d) processing fee for the replacement of Bangko Sentral Certificate of Registration; L4. Strict compliance with the transactional requirements on the large value pay-outs and the sale of foreign currencies, and obtaining prior approval from the appropriate supervising department of the Bangko Sentral before transacting higher limits on the sale of foreign currencies; 15. Strict compliance with possible monetary sanctions/ penalties and other sanctions as imposed by the Bangko Sentral; 16. submission of the complete list of our foreign or local counterparties, including their contact details (i.e., business address, contact person and its numbers) (this provision is applicable to Remittance ond Tronsfer Company IRTC]only); L7. Contracting with counterparty(ies) that is/are licensed/authorized/ registered to engage in remittance business and is/are subject to the AML/CFT laws of the country where it operates (this provision is applicable to RTC only); 18. Responsibility for the Remittance Sub-Agent's compliance with all applicable AML/CFT laws, rules and regulations(this provision is applicable to RTC onV)j 19. Timely renewal of the business permits of all of its offices, which indicate the line of business, from the city or municipality having territorial jurisdiction over the place of establishment and operation of the respective offices; and 20. Attendance of the proprietor, partners, directors, president or officer of equivalent rank and function and head of the money service business operation and the compliance unit to a seminar on AML/CFT laws, rules and regulations, before start of operations, conducted by the Bangko Sentral, AML Council Secretariat, or any reputable training provider. For this purpose, [Name of lnstitutionl shall be responsible in ascertalning whether the external training provider has an adequate track record of successfully conducting training programs preferably on financial institution-oriented courses including, but not limited to, AML/CFT training.

signature over Printed Name of the Proprietor/All Designation Partners/All Members of the Board of Directors) and Key Executive Officers flnsert odditionol rows, as opplicoble] suBscRlBED AND swoRN to before me this_day of 2o_-, affiants exhibiting to me their government-issued identification cards, as follows: Name Gov't. lD No. Valid Until [lnsert additional rows, os applicoblel Notary Public

Appendix N-8-b-2 COMPANY NAME BUSINESS ADDRESS lD picture taken within the last 6 months PERSONAT DATA and AUTHORIZATION FORM 3.5 cm. x 4.5 cm. (passport size) Computer generated or photocopy of picture is not acceptable POSITION l, lNamel, after being sworn in accordance with law, do hereby: a' Certify that the information contained in this document and its supporting schedule of my own knowledge is true and correct. b. Authorize the following, pursuant to the provisions of subsection 4511N.2 of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFt): 1. lName of lnstitutionl to conduct a background investigation on myself as lpositionl in lName of Institutionl which include, among others, inquiring from the watchlist Files of the Bangko Sentral ng pilipinas; and 2' The Bangko Sentral ng Pilipinas to disclose its findings pertinent to the aforementioned inquiry on the said Watchlist Files and other sources to [Name of Institution]. with the above authorization, I hereby waive my right to the confidentiality of the information that will be obtained as a result of the said inquiry, provided that disclosure of said information will be limited for the purpose of ascertaining my qualification or non-qualification for the said position. Signature over Printed Name SIGNED IN THE PRESENCE OF: (Witness) (Witness) SUBSCRIBED AND SWORN to before me this _ day of_20 , affiant exhibiting to me his/her issued at on Notary Public

Appendix N-8-b-2 BIOGRAPHICAL DATA PERSONAT INFORMATION: 1. NAME: 2. TIN : 3. UPDATED AS OF : 4. OTHER NAMES USED, IF ANY : 5. MANAGEMENT LEVEL : ! Director n officer 6. DATE ELECTED / RE-ELECTED / APPOINTED / POSITION CHANGED : T.RESIDENCE ADDRESS : 8.TELEPHONE NO. : 9. E-MAIL ADD : lO.BUSINESS ADDRESS : 11. TEL. NO. : 12. E-MAILADD : I.3.CIVIL STATUS : ! single ! Married [Divorced/Separated ! widow 14. SEX : fl vtate ! female l5.ClTlZENSHlP : 16. DATE OF BIRTH : 17.PLACE OF BIRTH : FAMItY RELATIONS (tegitimate or Common-Law): SURNAME GIVEN MIDDLE SUFFIX (e.9. Jr.) 18. NAME OF SPOUSE SURNAME GIVEN MIDDLE SUFFIX (e.g. tr.) 19. NAME OF COMMON-LAW SPOUSE (Pleose indicote 'N/A" lor fields that are not applicable)

NAME UPDATED AS OF TRATNTNG/S: 20. Seminars/Training on Money Service Business, AML/CFT and other related fields NATURE/TITLE (continue in separate sheet if necessary) WORK EXPERIENCE/S: 21. Present Position - Other Private Institution (lncluding Corporate Directorships) INDICATE IF OWNER/ NAME OF OFFICE POSTTtON DATE ASSUMED PARTNER/ STOCKHOLDER (continue in seporate sheet if necessary) 22. Present Position/s -Government (lncluding Directorships in Government Corporate Institutions) INDICATE IF ELECTIVE OR APPOINTIVE AND NAME OF OFFICE POStTION DATE ASSUMED PART/FULL-TIME (continue in separate sheet if necessory) 23. Past Position/s - Other Private Institutions (lncluding Corporate Directorships) DURATTON (YEAR) NAME OF OFFICE POSTTtON FROM TO (continue in seporate sheet if necessary) 24. Past Positions - Government (lncluding Directorships to Government Financial Institution) DURATTON (YEAR) NAME OF OFFICE POSTTtON FROM TO (continue in separate sheet if necessary) (Please indicote'N/A" lor lields that ore not appticabte)

Annex "B" Appendix P-l ^,,,f;lJ"?:Hn'il,1,',:ff l::[Tffi:ffiTI;;"",, (Appendix to Section 4t0gp) The notarized Application for an Authority to Operate a new pawnshop business shall be accompanied by the following documents: L. Notarized Deed of Undertakin g (Appendix p-I-a); 2. Compliance with fitness and propriety requirements by the proprietor, partners, directors, president or officer of equivalent rank and function, and over-all head of the pawnshop operation and the head of the compliance unit, as the case maybe. For this purpose, applicants shall be required to submit the following: a. Personal Data and Authorization Form (Appendix p-l-b); b. NBI clearance, or its equivalent, if issued in foreign jurisdictions; and c. Proof of attendance to the mandatory training on anti-money laundering/ combating the financing of terrorism; 3. Business license/permit for the current periodl; and 4. Proof of provisional registration with the Anti-Money Laundering Council Secretariat. 1 The entity name, business address and activity(ies) indicated therein should be consistent with the business registration with the DTI/SEC, as applicable. The details in said business permit shall be used as basis in the issuance of Certificate of Authority.

Appendix P-t-a REPUBLTC OF THE PHILtPP|NES ) crTY )s.s. DEED OF UNDERTAKING l/We (the Proprietor/Partners/Members of the Board of Directors) and key executive officers of (Name of lnstitution), a legal entity duly authorized to operate under the laws of the Philippines, with principal place of business at by these presents do hereby obligate ourselves, individually and collectively, to undertake and ensure: 1. Strict compliance with all the requirements, rules and regulations of the Bangko Sentral regarding the licensing and operations of pawnshop business as provided under Presidential Decree (P.D.) No. 114, Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) - Pawnshop (P) Regulations and other applicable laws, rules and regulations; 2. Full compliance with the minimum capitalization and borrowing limits as prescribed under Section 4lItP and 4281P of the MORNBFT; 3. Adequate compliance with the provisions of Republic Act (R.A.) No. 9160, as amended [The Anti-Money Laundering (AML) Act of 2OOU, R.A. 10168 (The Terrorism Financing Prevention and Suppression Act of 2OL2l and their implementing rules and regulations particularly in conducting customer due diligence procedures, covered and suspicious transaction reporting, and record keeping and retention; 4' Exclusive use of bank account/s in the name of the licensed entity/pawnshop in its official business transactions and to provide a certified list of all bank account/s supported by confirmation from depository bank/s which shall be subject to Bangko Sentral examination for AML/combating the financing of terrorism {CFT) purposes; 5. Compliance with the disclosure requirement on the entity/pawnshop beneficial owner/s; 6. Full responsibility over its offices'/branches' compliance with all the requirements, rules and regulations of the Bangko Sentral on matters relating to license, registration and notification requirements; 7. Submission of all documentary requirements and securing approval from the appropriate supervising department the Bangko Sentral before effecting the following: (a) transfer of ownership; (b) change of registered business name; and (c)surrender of pawnshop operator license due to closure of business; 8. Notification to the appropriate supervising department of the Bangko Sentral within the prescribed deadline of the following events: (a)commencement of pawnshop operations; (b) newly-established pawnshop office; (c)transfer/ relocation of business; and (d)voluntary closure of pawnshop office;

Appendix P-1-a 9. Strict compliance with the requirements of maintenance of records and submission of required reports; Maintenance of an internal control system commensurate to the nature, size and complexity of the business, and development of sound risk management policies and practices to ensure that risks associated with the operations of a pawnshop business are identified, assessed, monitored, mitigated and controlled; LI, Adoption of minimum standards of consumer protection in the areas of disclosure and transparency, protection of client information, fair treatment, effective recourse and financial education pursuant to Section 44OLP, Section 44O2P and Subsection 4195p.4 of the MORNBFI, as may be applicable; L2. Hiring, andlor engaging the services of external auditors/auditing firm, who will assist in the preparation, and/or rendering an opinion on the fairness of the pawnshop's financial statements, and that the external auditors/audit firm contracted are included in the Bangko Sentral List of Selected External Auditors for Supervised and/or Regulated Institutions, as may be applicable based on the type of pawnshop license granted; 13. Attendance of the proprietor, partners, directors, president or officer of equivalent rank and function and head of the pawnshop operation and the compliance unit to a seminar on AML/CFT laws, rules and regulations, before start of operations, conducted by the Bangko sentral, AML council secretariat or any reputable training provider. For this purpose, lName of Institutionl. shall be responsible in ascertaining whether the external training provider has an adequate track record of successfully conducting training programs preferably on financial institution-oriented courses including, but not limited to, AM L/CFT trai ning; L4. Timely renewal of the business permits of all of its offices, which indicate the line of business, from the city or municipality having territorial jurisdiction over the place of establishment and operation of the respective offices; and 15. Responsibility over violations of any of the aforementioned laws, rules and regulations, subject to the applicable sanctions prescribed under Sections 36 and 37 of R.A. No. 7653, as amended, in relation to Section 17 of p.D. No. 114. Signature over Printed Name of the proprietor/All Designation Partners/All Members of the Board of Directors) and Key Executive Officers [lnsert additionol rows, os applicablel

Appendix P-1-a suBscRlBED AND swoRN to before me this_day of 2o_, affiants exhibiting to me their government-issued identification cards, as followr Name Gov,t. lD No. Valid Until Insert odditional rows, os opplicoblel Notary Public

Appendix P-l-b COMPANY NAME BUSINESS ADDRESS lD picture taken within the last 6 months 3.5 cm. x 4.5 cm. PERSONAT DATA and AUTHORTZATTON FORM (passport size) Computer generated or photocopy of picture is not acceptable POStTtON l, lNamel, after being sworn in accordance with law, do hereby: a. Certify that the information contained in this document and its supporting schedule of my own knowledge is true and correct. b. Authorize the following, pursuant to the provisions of Subsection 4103p of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFt): L. lName of Institutionl to conduct a background investigation on myself as [oositionl in lName of Institutionl which include, among others, inquiring from the Watchlist Files of the Bangko Sentral ng pilipinas; and 2. The Bangko Sentral ng Pilipinas to disclose its findings pertinent to the aforementioned inquiry on the said Watchlist Files and other sources to IName of Institutionl. With the above authorization, I hereby waive my right to the confidentiality of the information that will be obtained as a result of the said inquiry, provided that disclosure of said information will be limited for the purpose of ascertaining my qualification or non-qualification for the said position. Signature over Printed Name SIGNED IN THE PRESENCE OF: (Witness) (Witness) SUBSCRIBED AND SWORN to before me this_ day of_ZO_ affiant exhibiting to me his/her issued at on Notary Public

Appendix P-1-b BIOGRAPHICAT DATA PERSONAT INFORMATION: 1. NAME: 2. TIN : 3. UPDATED AS OF : 4. OTHER NAMES USED, IF ANY : 5. MANAGEMENT LEVEL : ! Director flofficer 6. DATE ELECTED / RE-ELECTED / APPOINTED / POSITION CHANGED : T.RESIDENCE ADDRESS : S.TELEPHONE NO. : 9. E-MAIL ADD : lO.BUSINESS ADDRESS : 11. TEL. NO. : 12. E-MAIL ADD : I.3.CIVIL STATUS : flsingte ! Married loivorced/Separated I wioow 14. SEX : ! tvtate ! Female lS.ClTlZENSHtp : 16. DATE OF BIRTH : 17.PLACE OF BIRTH : FAMILY RELATIONS (tegitimate or Common-Law): SURNAME GIVEN MIDDLE SUFFIX (e.9. Jr.) 18. NAME OF SPOUSE SURNAME GIVEN MIDDLE SUFFIX (e.9. Jr.) 19. NAME OF COMMON-LAW SPOUSE (Please indicate 'N/A" for fields that ore not applicabte)

NAME UPDATED AS OF TRA|NING/S: 20. Seminars/Training on Money Service Business, AML/CFT and other related fields NATURE/TITLE CONDUCTED BY (continue in seporate sheet if necessory) WORK EXPERIENCE/S: 21. Present Position - Other Private Institution (lncluding Corporate Directorships) TND|CATE tF OWNER/ NAME OF OFFICE POSTTtON DATE ASSUMED PARTNER/ STOCKHOLDER (continue in seporate sheet if necessary) 22. Present Position/s -Government (lncluding Directorships in Government Corporate Institutions) INDICATE IF ELECTIVE OR APPOINTIVE AND NAME OF OFFICE POStTTON DATE ASSUMED PART/FULL-TIME (continue in seporate sheet if necessary) 23. Past Position/s - Other Private Institutions (lncluding Corporate Directorships) DURATTON (YEAR) NAME OF OFFICE POSTTtON FROM TO (continue in seporote sheet if necessary) 24' Past Positions - Government (lncluding Directorships to Government Financial Institution) DURATION (YEAR) NAME OF OFFICE POStTtON FROM TO (continue in separote sheet if necessary) (Please indicate 'N/A" for fietds that are not applicobte)

Annex "C" Appendix N-1 LIST OF REPORTS REQUIRED FROM NON.BANK FINANCIAL INSTITUTIONS lAppendix to Sec. 4762N) Categorv Form MOR Report Title Frequenor Submission Deadline Submission No. Ref. Procedure xxx A-2 4511N List of operating, and Semestral 10 business days after end of reference Appropriate closed/delisted RTC/MC/FXD offices semester supervising department of the Bangko Sentral A-2 4511N Reports on the total value of -do- 10 business days after end of reference -do- foreign and domestic remittance quarter transactions xxx

Annex "C" Appendix P-13 IIST OF REPORTS REQUIRED FROM PAWNSHOPS lAppendix to Subsedion 479tp.2) Cateeory Form No. MOR Report Title Frequencv Submission Deadline Submission Ref. Procedure xxx A-2 Unnumbered 4T9LP List of operating Semestral 10 business days after Appropriate and closed end of reference semester supervising Pawnshop officest department of the Bangko Sentral l The appropriate supervising department of the Bangko Sentral shall issue the submission guidelines and prescribed reporting template for this report.